Dogecoin was up 3.86% on Sunday. After gaining 0.54% on Saturday, Dogecoin ended the week down 20.47% to $ 0.2503.
A mixed start to the day caused Dogecoin to hit an early morning intraday low of $ 0.2389 before moving.
Dogecoin hit the first major support level at $ 0.2364 and hit a late intraday high of $ 0.2545.
Dogecoin broke the first major resistance level at $ 0.2468 and the second major resistance level at $ 0.2526.
However, on a late pullback, Dogecoin fell through the second major resistance level and ended the day below $ 0.2510.
At the time of writing, Dogecoin is down 0.87% to $ 0.2481. A bearish start to the day caused Dogecoin to fall from an early morning high of $ 0.2522 to a low of $ 0.2473.
Dogecoin left key support and resistance levels untested early on.
For the next day
Dogecoin would have to move back through the $ 0.2479 pivot to bring the first major resistance level into play at $ 0.2569.
However, support from the broader market would be required for Dogecoin to break out of the $ 0.2545 Sunday high.
Aside from an extended crypto rally, the first major level of resistance would likely limit the uptrend
In the event of a large-scale crypto rally, Dogecoin could test resistance at $ 0.27 before pulling back. The second major resistance level is at $ 0.2635.
Should it fail to break the $ 0.2479 pivot value, the first major support level at $ 0.2413 would come into play.
However, aside from another lengthy sell-off, Dogecoin should avoid levels below $ 0.23. The second major support level at $ 0.2323 should limit the downside.
Look at the technical indicators
First major support level: $ 0.2413
Pivot Level: $ 0.2479
First major resistance level: $ 0.2569
23.6% FIB Retracement Level: $ 0.3016
38.2% FIB Retracement Level: $ 0.3859
62% FIB Retracement Level: $ 0.5221
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This article was originally published on FX Empire